TTO PROCEDURE; GHANA WATERS

1. SELLEER AND BUYER SIGN SPA AND DEPOSIT IN THEIR RESPECTIVE BANKS. THE ELECTRONICALLY SIGN COPY IS CONSIDERED ORIGINAL AND LEGALLY BINDING. BUYER RETURNS SIGNED SPA WITH CIS INT'L PASSPORT AND COMPANY CERTIFICATE OF INCORPORATION. IN ADDITION TO SIGNED NCNDA/IMFPA, NOR/ATB FORMAT, SUPER CARGO/ INSPECTOR DETAILS.

2. NNPC/SELLER ISSUES OFFICIAL LETTER OF ACKNOWLEDGEMENT AND ACCEPTANCE TO THE BUYER, ATTACHED WITH PROFORMA INVOICE AND VERBAGE WITH NOMINATED BANK DETIALS TO RECEIVE LOGISTICS INSTRUMENT FROM A TOP 25 RATED BANK IN THE WORLD

(A). TWENTY-FIVE MILLION DOLLARS (USD $25,000,000.00) CASH BACKED MT760 SBLC,
(B). ESCROW PAYMENT OF TWENTY MILLION DOLLARS (USD20,000,000.00),
(C). BANK DRAFT OF TWENTY MILLION DOLLARS (USD $ 20,000,000.00), OR
(D). ONE MILLION DOLLARS (USD$ 1,000,000.00) CASH PAYMENT

3. BUYER UPON RECEIPT OF ALL THE ITEMIZED DOCUMENTS AND INFORMATION AS IN THE ABOVE, THE BUYER/HIS BANKERS IMMEDIATELY VERIFY NNPC NOMINATED ACCOUNT IN THE PROFORMA INVOICE, AND WITHIN TWO BANKING WORKING DAYS ISSUE SBLC (MT760) CASH BACKED, ACCORDING TO NNPC BANK VERBAGE, SWIFT TO NNPC ASSIGNED BANK AND COPIED NNPC. NNPC/HIS BANKERS CONFIRMED THE SBLC MT760 CASH BACKED OR ANY OF THE ABOVE BANKING INSTRUMENTS

4. NNPC/SELLER’S CAPTAIN OF THE LOADED VESSELS BY THE INSTRUCTION OF NNPC ISSUE NOR-ETA TO GHANA HARBOR MASTER ACCORDING TO BUYER NOR-ETA FORMAT. HARBOR MASTER ACKNOWLEDGES THE NOR-ETA. CARGO CAPTAIN MOVE VESSEL TO 12-15 NAUTICAL MILES AND MAKE ANNOUNCEMENT IN BUYER'S NAME TO HARBOR MASTER. CAPTAIN OPENS COMMUNICATION WITH BUYER'S SHIPPING AGENT, HARBOUR MASTER.

5. BUYER'S SHIPPING AGENT CLEAR THE CARGO VESSEL. CARGO ARRIVED BUYER'S PORT. CAPTAIN ISSUES MARINE ATB TO BUYER SEAMEN. BUYER BOARDS HIS SUPER CARGO AND INSPECTION AGENT. BUYER SUPER CARGO CONFIRMS PRODUCT ON BOARD AND SEND ATTESTATION SIGNED WITH THE CAPTAIN TO BOTH BUYER AND NNPC/SELLER.


6. BUYER UPON RECEIPT OF ATTESTATION, SUPER CARGO REMAINS ON BOARD WHILE INSPECTOR COMES DOWN WITH PRODUCT SAMPLE FOR Q&Q ANALYSIS. INSPECTION COMPANY PERFORMS Q&Q AND SEND RESULT TO BOTH THE BUYER AND SELLER. NNPC/SELLER DISCOUNT THE ESCROW OR BANK INSTRUMENT INTO CASH FOR CARGO DOCUMENTATIONS IN BUYER'S COMPANY NAME AS WELL ISSUES COMMERCIAL INVOICE TO THE BUYER ACCORDING TO THE Q&Q RESULT AND FORWARD ALL TO BUYER.

7. BUYER'S BANK WITHIN TWO BANKING DAYS MAKES FULL PAYMENTS VIA MT 103 SWIFT WIRE TRANSFER TO NNPC/SELLER’S NOMINATED BANK ACCOUNT FOR THE ENTIRE CARGO LESS AMOUNT PAID FOR LOGISTISC AND PAYS INTERMEDIARIES SIMULTANEOUSLY ACCORDING TO NCNDA/IMFPA SIGNED DOCUMENT. NNPC CONFIRMS ALL PAYMENTS FULLY MADE AND RELEASE TO BUYER ALL THE ORIGINAL COPIES OF THE CARGO DOCUMENTS, WITH WARRANTY OF TITLE (WOT).

INTRODUCES VESSEL HANDULLERS/OWNER TO BUYER. BUYER RECHARTER AND TAKEOVER THE VESSEL, SAIL TO POD.
NOTE: IF BUYER INTENDED NOT TO MOVE CARGO TO HARBOR: THE CAPTAIN INSTEAD OF MAKING ANNOUNCEMENT, HE WILL ISSUE ATB DIRECT TO BUYER FOR BOARDING.

.............................................................


CIF PROCEDURE



NOTE: BUYER’S SHIPPING AGENT SHALL BE ALLOWED TO OPEN COMMUNICATION WITH CAPT. ONBOARD THE LOADED VESSEL AFTER MT199 RWA SWIFT TO NNPC/SELLER BEFORE BUYER WILL SWIFT MT 760-SBLC OR MT799 BLOCK FUNDS CASH BACKED FOR 2MILLION BARREL TRIAL LIFTING

1) SELLER AND BUYER SIGN SPA AND DEPOSIT IN THEIR RESPECTIVE BANKS THE ELECTRONICALLY SIGN COPY IS CONSIDERED ORIGINAL AND LEGALLY BINDING. OPERATIONAL AND ENFORCEABLE. BUYER RETURNS SIGNED SPA WITH BUYER’S CIS, INTERNATIONAL PASSPORT, COMPANY PROFILE & CERTIFICATE OF INCORPORATION.

2) NNPC ISSUES OFFICIAL LETTER OF ACKNOWLEGDEMENT AND ACCEPTANCE TO BUYER, ATTACHED WITH PROFORMA INVOIC AND BANKING DETAILS TO RECEIVE MT760 SBLC OR MT799 BLOCK FUNDS CASHED BACKED FROM A TOP 25 RATED BANK IN THE WORLD, NNPC/SELLER ASSIGNED VESSELS ALREADY LOADED TO BUYER,

3) BUYER UPON RECEIPT THE ITEMIZED DOCUMENT AND INFORMATION AS IN THE ABOVE THE BUYER’S / BANKERS IMMEDIATELY VERIFY NNPC ACCOUNT NOMINATED IN THE CONTRACT, (ATV) BUYER'S BANK SEND RWA TO NNPC/SELLER’S BANK VIA MT199 SWIFT COMMUNICATION AND NNPC / SELLER ‘S BANK REPLY WITH SWIFT MT199 OF HIS READINESS TO RECEIVE INSTRUMENT AND WITHIN THREE WORKING DAYS BUYER’S BANK ISSUES MT760-SBLC OR MT799 BLOCK FUNDS CASHED BACKED SWIFT TO NNPC/SELLER’S BANK AND SEND COPY TO NNPC/SELLER FOR CONFIRMATION.

4) NNPC/SELLER INSTRUCT CAPTAIN TO RE-DIRECT LOADED VESSEL TO BUYER'S PORT OF DELIVERY, CAPTAIN ISSUES MARINE NOR/ETA TO BUYER'S HARBOUR MASTER AND THE BUYER ACCORDING TO BUYER'S VERBIAGE, BUYER ACKNOWLEDGE RECEIPT OF NOR/ETA.

5) VESSEL ARRIVES BUYER'S PORT AND CAPTAIN ISSUES MARINE ATB. BUYER BOARDS HIS INSPECTION AGENT FOR Q&Q ANALYSIS. INSPECTOR PERFORMS Q&Q AND SEND RESULT TO BOTH THE BUYER AND NNPC/SELLER.

6) NNPC/SELLER ISSUES COMMERCIAL INVOICE TO BUYER ACCORDING TO THE Q&Q RESULT VESSEL DISCHARGES CARGO INTO BUYER'S STORAGE.

7) NNPC/SELLER REASSIGN ALL RELEVANT DOCUMENTS RELATED TO THE LOADED VESSELS ON BUYER’S NAME MARKED NON- NEGOTIABLE AND NON- TRANSFERABLE AS THE CONSIGNEE.

BUYER PAYS FOR THE CRUDE OIL & ALL INTERMEDIARIES/AGENTS SIMULTANEOUSLY AS RECORDED ON THE SIGNED SPA WITHIN 3 BANKING DAYS AFTER THE Q&Q REPORT VIA MT103 SWIFT WIRE TRANSFER TO ALL MANDATES/ FACILITATORS BANKING DETAILS.

Check my signature for more details of